Ecomike's A-Z investments chat board

[Ecomike]

Regarding EWSI, there are others it seems

http://www.marketwatch.com/story/gtso-apple-recycling-program-boosts-e-waste-market-2013-11-20

Got any good links to the biography on this "Martin" guy?

I thought Mitt Romney and Bain Capital were the ones behind Staples?

http://en.wikipedia.org/wiki/Staples_Inc.

Shareholder equity is negative $642,296 per the last 10-Q

$146,399 NET loss in the last 3 months (mostly executive and consulting costs)

last 10-Q says 168 million shares now, was 101 million shares 12 months ago according to the last 10-Q but the company web site shows "Issued and Outstanding Shares 252,045,454" as of Friday!!!

Net loss for the last 6 months for the 10-Q -$634,326

ODD asset listed:

Intangible assets, net $347,369

Increase in accounts payable and accrued expenses the last months:
$2,112,130

What is to keep the preferred stock holder from swapping the shares for this?

"Marketable securities received in exchange for preferred stock $880,000" From the 10-Q

NOTE 5 – INTANGIBLE ASSETS

Intangible assets consist of the unamortized portion of software development costs, certification costs and customer lists. The software development costs asset is still in the developmental stage. No amortization has been recorded on this product. Certification costs and customer lists will be amortized over the remaining economic useful lives. The following table presents the detail of intangible assets for June 30, 2013:
This is the list of intangible assets.

June 30, 2013

Software Development Costs
$ 77,185 $ - $ 77,185 3
Years
Certification Costs
200,000 - 200,000 5
Years
Customer Lists
70,184 - 70,184 5
Years
Total
$ 349,057 $ - $ 349,057

What is or was this all about? Very odd looking?

On September 20, 2012 the Company’s wholly owned subsidiary, E-Waste Systems (Ohio), Inc. completed the physical transfer of its business and its assets to a company controlled by a minority shareholder in the Company (“the purchaser”). In connection with this transfer the purchaser has agreed to assume payments on the lease on the premises at 1033 Brentnell Avenue, Columbus, Ohio, formerly held by the Company. The value of any consideration receivable arising from the sale, including any gain on disposal, has been fully impaired as its collection is uncertain.

"subsequent to June 30, 2013, the Company has made the required aggregate monthly payments to the Note Holder in the form of the Company’s Unrestricted Common Stock. The aggregate payment for both Notes for the month of May, 2013 resulted in a share issuance of 1,543,210 at a price per share of $0.0081. The aggregate payment for both Notes for the month of June, 2013 resulted in a share issuance of 1,344,086 at a price per share of $0.0093."

They issued shares at a price of .0093 to pay some debt in June 2013?

"Effective June 13, 2013, the note holder elected to convert $9,883.33 of the principal balance at a price per share of $0.003315 resulting in the issuance of 2,981,397 shares of the Company’s common stock. "

I am only half way through the 10-Q and I found nothing to get me excited to buy shares, in fact the opposite.

I wonder what I can buy convertible debt for now and how fast I can convert it?

Sorry to be such a pessimist on this one. But people keep telling me I am wrong about this one, so I looked again. Please do not take offense, and feel free to post news here on them ( I promise to gag myself, LOL). But every once in a while I do look and say my peace.

I will admit one thing, they did one hell of a great pump this year. But in all honestly, while this one may be a flippers paradise, it is not the kind of stock I would buy and hold. Flippers that can cash out and hold free shares might take a gamble, but the dilution and convertibles suggest otherwise.